How much time in the week does trading account for?

[Sicilian Trader]

Hello all,

I thought i'd start this thread to satisfy some curiosity. I know it has been discussed before so apologies to those if appears repititive.

I find reading many of the posts on ASF very thought provoking and insightful. At times, it really amazes me the extent of knowldge that people possess. As a result, im curious to see how of those poeple, how many apply it full time , part time, weekends, once a week etc?

Also interested to see what ASF members' daytime jobs are (trading or other). As well as how much time trading takes up when you are not working.

I will kick things off so you have an idea of what i am looking for:

TYPICAL DAY:

9-10 = look at asx charts of small / mid capped stocks
10-4pm = scalping aus equities, mainly small caps, concentrating on volume and momentum
5-7pm = some EOD futures trading analysis / studying course material
7 -8pm = paper trading futures EOD
9-11pm = read a few chapters of trading book of choice

(yeah i know its sad, but weekends is where i get loosy goosy and let the hair down. My days wont always be so trading oriented, its only because i am slightly green so i am in the process of immersing myself in as much relevant info as I can)

I know there will invariably be people who be inclined inclined to share this sort of info with the general public, i completely understand. Though I am sure this will be an interesting thread to those who care to comment and read it.

Look forward to hearing from you all, especially from those of you who have a great deal of knowledge in the everything associated with trading, including its psychology, systems, strategy, T/A, MM.

What does your day look like?

Cheers
ST

 

[MRC & Co]

9:40 - 9:50am calculate SPI open based on overnight moves, assess levels and form a general opinion of what I will be looking for that day.
9:50 - 4:30pm trade SPI, with many many breaks in-between, taking up probably half that time.

One hour at night surf ASF for a golden piece of information that could come up, or to garner general market sentiment.

Have laptop with live S&P charts next to my TV at night on 5 and 1 minute timeframes and watch how price flows.

 

[James Austin]

8.45-9.45
assessing my SPI charts for potential trade at open
assessing FTSE trades from prev. session
reviewing trade plan

9.50-12.30
trading SPI index (CFD of)

4.00-4.55
assessing my FTSE charts for potential trade at open
assessing SPI trades from prev. session
reviewing trade plan

5.00-8.30pm (sometimes a little later)
trading FTSE index (CFD of)


** repeated 5 days week
** 4 or 5 hours on weekend doing trade related stuff

 

[tech/a]

The days I'm trading I set buy orders when I see triggers (Have a few charts of interest tiled on screen in office) and bracket orders then go on with the rest of my day.
So would take no more than 30 mins in a day.
If I'm trading the SPI then I will watch it but thats not often as I'm too busy!

Really prefer set and forget.

 

[CanOz]

I trade EOD. With some FX sim on the side.

So i wake up at 4:30 - 5:30am

1.) Check the US trades, and the overall S&P 500
2.) Shut down the PC
3.) 6:30 - go to work
4.) 7:00 - 7:30 - catch up on the news, download data into laptop, drink coffee, have muesli.
5.) 7:30 - 6:00 pm - work for employer infrequently checking the ASX trades and the overall market, ASF. Lunchtime, run some US scans.
6.) 6:30 - turn on PC and start scanning for trades and entering orders for the US. Update trailing stops, watchlists etc. Look for more trading patterns/opportunities from The Chartist and Leavitt Brothers. Cook dinner, spend time with GF.
7.) 9:30 - catch the open of the US.
8.) 10:00 - go to bed, read, sleep.

Weekends - practice AFL, more scans, check out the main index charts.

Cheers,


CanOz

 

[beamstas]

(5am - 6am) Wake up
(7am) Set trades for the day
(8am) Arrive at work
(8:02am) Make coffee
(8:03am - 9:00am) Make sure my trades are right. Browse forums
(9:00am - 9:50am) Do peoples tax returns
(9:51am - 10:15am) Watch the market open as i drink yet another coffee
(10:16am - 5:30pm) Do peoples tax returns -- occasionally flicking between my trading platform to check trades and prices. Have 3-4 more coffees
(7pm) Arrive home. Look for new trades & new entry points
(9pm - 11:30pm) Go to bed

 

[CanOz]

I wish i could still drink that much coffee!

CanOz

 

[beamstas]

I wish i could still drink that much coffee!

CanOz

Mate, thats a normal day!
If the market is hitting my stops and my boss is on my tail the amount of coffee comsumed increases exponentially

Brad

 

[weird]

Typical day, 5-10 mins, waiting for EOD downloads of data, 5 mins of trade scanning and order placement, 1-5 min of updating blog ... so less than 20 mins a day, waste too much time reading forums, although sometimes there are interesting posts.

I gave up caffeine around about 40 days ago ... use to feel like crap until recently ... now sleep better and more energetic ... talk about a socially accepted drug, that can cause anxiety or other issues.

 

[Sicilian Trader]

Typical day, 5-10 mins, waiting for EOD downloads of data, 5 mins of trade scanning and order placement, 1-5 min of updating blog ... so less than 20 mins a day, waste too much time reading forums, although sometimes there are interesting posts.

I gave up caffeine around about 40 days ago ... use to feel like crap until recently ... now sleep better and more energetic ... talk about a socially accepted drug, that can cause anxiety or other issues.

do you work full time or do you just trade?

 

[CanOz]

Typical day, 5-10 mins, waiting for EOD downloads of data, 5 mins of trade scanning and order placement, 1-5 min of updating blog ... so less than 20 mins a day, waste too much time reading forums, although sometimes there are interesting posts.

I gave up caffeine around about 40 days ago ... use to feel like crap until recently ... now sleep better and more energetic ... talk about a socially accepted drug, that can cause anxiety or other issues.

Weird, are you still purely mechanical?

CanOz

 

[weird]

work full time, trade mechanical, on ASX long positions, US short-term swing trading, and futures EOD trading ... I am not a scalper ... hope I didn't interrupt the thread ... although I am still nasty towards caffeine ! Alhtough perhaps a starter cup per day is okay, but unfortunately due to heartburn not for me, still young but getting old quickly.

 

[sinner]

Depends on the market.

If trading on the ASX it will be a happy 8-5 day in front of the computers at home, too easy, no stress.

On the forex I should be trading from only 6-10PM (Sydney time) but often get sucked into the NYSE session and my room-mates will come downstairs on their way to work at 7AM, only to find me still scalping or sometimes just watching the markets.

This sort of lifestyle is not healthy or recommended really, and accommodated only by my shift working shenanigans. Soon I will have a normal person 9-5, 5 day a week job and probably go back to just the ASX and maybe scalping mini forex for fun (and to keep me sharp) on the London open.

 

[MS+Tradesim]

8:30-9:45: Review overseas movements from last night. Update some data.
9:45-10:00: Check opening auction possibilities for closing out positions.
10:00-11:00ish: Close trades if necessary
11:00-3:15: R&D. Update and review records. Keep an eye on markets. Waste time on ASF.: Very occasional scalp when I see a perfect setup. Often have a walk on the beach in this period - especially in Winter.
3:15-3:45: Check for entries.
3:45-4:10: Open any new positions.
4:10-4:30: Update records. During daylight savings, will usually have a beach walk after market closes.

Evening often involves more R&D, keep an eye on overseas markets. Read trading related stuff. Depends on what my wife might want to do.

I'd do this for free. It's like the best computer game in the world and you can get paid for playing it. Trading makes me happy. It's what I was meant to do.

 

[Sicilian Trader]

8:30-9:45: Review overseas movements from last night. Update some data.
9:45-10:00: Check opening auction possibilities for closing out positions.
10:00-11:00ish: Close trades if necessary
11:00-3:15: R&D. Update and review records. Keep an eye on markets. Waste time on ASF.: Very occasional scalp when I see a perfect setup. Often have a walk on the beach in this period - especially in Winter.
3:15-3:45: Check for entries.
3:45-4:10: Open any new positions.
4:10-4:30: Update records. During daylight savings, will usually have a beach walk after market closes.

Evening often involves more R&D, keep an eye on overseas markets. Read trading related stuff. Depends on what my wife might want to do.

I'd do this for free. It's like the best computer game in the world and you can get paid for playing it. Trading makes me happy. It's what I was meant to do.

great finish to your post

 

[ivant]

I am a full time trader, but I don't have any particular hours. I trade the SPI and light sweet crude mostly. I usually do stay up between 10pm and 4am watching markets in the US. I don't do any scalping, because I think its dangerous if you don't trade off the floor, and it just didnt work for me. I decided to do more directional trades (ie the 25% rise in the markets recently), and thus they are in for a few weeks. If markets are more choppy (like crude) it takes more of my time. I check my charts every few days see what is going on. usually i trade based on particular levels. So my screen time is determined by particular levels being traded. it used to be 10 to 10 am through to 4 am.

however, i do come up and check what is going on every half hour-hour, and when im asleep i have my alarm going off by the hour, so im always informed.

so based on that you can take that as 24 hours or 2 hours a day lol.

 

[MRC & Co]

I don't do any scalping, because I think its dangerous if you don't trade off the floor

I like your posts ivant, but this part is wrong.

"The floor" is dead.

 

[Sean K]

Don't 'trade' very often. I'm a very good donor to IG.

I spend every minute I am not thinking about anything else about the next investment. So, 12 hrs a day, give or take.

So, in the week, maybe 60-70 hrs.

But, as I said, it's not 'trading'.

It's my life.

 

[Trembling Hand]

Wake at 6:30 - 7 in front of screens 10 min later with first coffee and breaky
Check news, US, commodities Blah Blah Blah.
7:30 review yesterdays crap trading and make notes of what mistakes I will not do today, note that they are sadly the same as the ones I wrote out 3 days ago.
8:00 work out SPI, HSI & K200 levels and "guesses" for the day ahead and further out.
9:00 2nd or 3rd coffee. more news and ASF, emails and sports news.
9:40 4th or 5th Coffee. Set up ipod playlist. Glance at things to work on todays list.
9:50 watch SPI open
9:51 throw first order into the market.
9:51:12 scratch it.
9:51:22 reverse last trade.
9:51:42 Scratch AGAIN and re-enter first trade 6 points worst off than first entry. roll eyes.
9:52:08 take 4 ticks.
9:53 watch trade I just closed run another 16 ticks.
9:53:08 call in the dog
9:54 change ipod playlist cus its ****ting me.
9:55 place a limit order to sell @ the high
9:56 Swear at the Boyz for not filling it.
9:57 watch it run 16 tick away from my pathetic limit order.
9:57 Call the dog again
9:58 get stopped out instantly on next trade.
9:58:10 notice i'm flat on 4 trades less a heap of brokerage - wonder why the dog will not come past the door entrance.
10:00 throw full size order into the flick higher on the up open.
10:00:20 wish i didn't do that.
10:00:22 move stop up a tick
10:00:36 get stopped out. notice the dogs gone back outside.
10:01 re-enter same trade
10:01:20 wish i didn't do that.
10:02 glad i did
10:03 close out half, trail stop rest
10:04 half stopped out for 6 ticks profit instead of the 12 I had on first half exit.
10:04:02 wish i didn't do that.
10:05 first K200 trade
10:06 wish i didn't do that.
and on and on

4:30 move out into the real world and live a little:band:alcohol:artyman::car::brille:

 

[MRC & Co]

LOL, too funny!